In a recent conversation with Anthony Pompliano, Charles Hoskinson, the founder of Cardano (ADA), talked about how the project is going to be growing in the future.
He mentioned that they are going to move into decentralization and performance.
Hoskinson Talks About Cardano
He said that it was very easy to fork Bitcoin or other cryptocurrency and change some few things. Hoskinson mentioned that they identified three main areas to focus on and offer financial services to millions of users.
One of these areas was scalability. They wanted to offer a solution in which individuals would be able to use a platform that would work well with lots or few users.
The second area was interoperability. Hoskinson explained that in the market there would be different systems and if they cannot talk to each other the functionalities and usability would be reduced. Finally, sustainability is also a very important thing.
In 2015 and 2016 Cardano has been working in research and peer review. Then they started working on their protocol in a federated model, similar to Ripple. In 2017, Cardano reached the top 10 and they were able to leverage this and keep moving forward.
Shelley was released a few weeks ago in order to move from a federated model to a decentralized network.
Hoskinson said that what they have built is really decentralized. At launch, they had a thousand stake pools. He compared Cardano to Bitcoin (BTC) saying that the former was 50 to 250 times more decentralized than the latter.
Now the team behind Cardano is working on Shelley trying to understand how to improve it and enhance it. Moreover, in November, they will be releasing the incentivize Shelley testnet.
About the project, Hoskinson said:
“There’s still a lot more to do on the network side and the storage layer to make it truly scalable, but that’s a major milestone for us.”
Regarding regulators, he said that it is important crypto companies to create services that are compliant. Moreover, Hoskinson said that it is important for the industry to have a conversation with regulatory agencies. He has also criticized maximalists saying that they are not flexible to discuss changes to a network or cryptocurrencies to make them be compliant.
A few days ago, UseTheBitcoin reported that Charles Hoskinson said that the Cardano is in good shape and moving fast.